Standing up for Consumers
ByToday, a bipartisan majority in the Montana House took steps to protect victims of securities fraud. They approved of setting up a Securities Restitution Fund, which would reimburse the victims of securities crimes for a portion of their loss. Victims would only be eligible for this fund if the perpetrator of the crime was unable to pay.
What makes this bill so great is it costs the state nothing at all. The compensation for the victims of these crimes would come from perpetrators of these similar crimes.
Unfortunately, forty-four Republicans voted against the measure, despite the fact that this bill protects consumers and costs the state no money. If they were successful, victims of these crimes would often be left with no way to reclaim their losses. In the video below, Rep. Krayton Kerns (R-Laurel) explains his vote against this bill.
This bill is a step in the right direction to protecting consumers and securing our economy.
"We believe that the current budget, heading to the Senate Floor next week, unnecessarily pits Montanans against, creating winners and losers” 